Are you trying to sell your house in Mercer County without using a real estate agent, let us help.
We are always willing to cooperate with agents and brokers, but sometimes it’s best to avoid paying someone just to be in the middle of a transaction.
Paying a 6% commission on the sale of a property can be a lot of money. There are times when brokers and agents in NJ can be very helpful and earn their commission, that is not always the case.
There are a few ways to avoid paying huge commissions in your NJ sale.
First, there is a crazy tradition in real estate transactions that you need to know about.
With most property sales in Mercer County, roughly half of the commission you pay as the seller goes to pay for the buyer’s broker. Yes you as the seller end up paying for the buyer to be represented.
Doesn’t make much sense, right?
Why should you pay for the buyers agent when you are the seller?
Truthfully, it is completely illogical, but that is just what’s typically done.
Believe it or not there are a few ways that you can use this to your advantage.
First, be sure to factor in the commissions paid when looking at the comparable sales. If the properties similar to yours sold for prices that included commissions, take that into account.
Do not under price your property – Most buyers want a discount, and are going to try to negotiate a lower price. But, if you are only paying a buyer’s agent, you are going to save on the commission that you would pay to a listing agent.
Sometimes in Mercer County buyers who are not represented by an agent will not try to negotiate the buyer’s side commission out of the price for themselves, so you may get lucky in such cases, just don’t be surprised if it they try to use that against you during the negotiation.
You definitely want to consider offering 3% to buyer’s agents who will bring their pre-approved clients to show your property. It is a lot of money, but if you’re pricing your property expecting to pay that commission, you can always negotiate a better deal for a purchaser who comes without an agent.
On the flip side, if you don’t leave room to pay the buyer’s agent’s commission, unfortunately you will be excluding most of the buyers in the market in Mercer County.
Over 90% of home sales happen through the MLS – also known as the Multiple Listing Service. It’s the main database that all the agents and brokers in Mercer County use to access information for their clients on the houses, condos, land and investment properties for sale, along with data on the sold prices.
Once upon a time, you had to pay a full commission to get your property on the MLS with a listing agent. Now in Mercer County, there are a few brokers who will charge you a flat fee just to list your property on the MLS. Often, you spend a few hundred bucks and you only pay commission to the buyer’s agent if the sale closes.
Compared to the cost of a newspaper ad, the MLS is a cheap way to market your property to a very wide audience and an absolute must if you want TOP dollar for the house.
Actually, all the major real estate search sites like Realtor.com, Zillow, Yahoo Homes, etc. get data from the MLS. Chances are good that when you submit your listing to the MLS in Mercer County, information on your property will end up on most of the major sites pretty quickly.
All of those sites sells ads, with different packages that let you pay to enhance your listing, feature it at the top of the search, and a lot of other bells and whistles that might or might not get an interested buyer to buy your property.
Advertising is a gamble. Sometimes open houses in Mercer County NJ can be a great way to sell property, but mostly they are a waste of time. Same with newspaper ads, craigslist postings, fancy signs – sometimes they work, and sometimes they don’t. Internet presence is key to a buyer finding your house for sale.
To effectively sell your property on your own, you have to market is essential.
Putting up fliers and signs around your neighborhood can generate some calls, and there’s a lot of free websites where you can post information. But often just putting up flyers and an open house isn’t enough if your house doesn’t have the appeal that the average home buyer is looking for.
The reason that commission are so big… In theory at least, is that real estate agents have to spend a lot of money up front to advertise your property. By advertising lots of properties at once, they expect to get more phone calls – and obviously, they’ll make good profits by selling lots of houses.
Certain properties might require thousands of dollars in advertising expenses before the right buyer happens to see the ad and call.
If you want to avoid paying any commissions, you can also sell your house to house buyers like us for CASH
We pay fair prices for properties – and we can close fast (in as little as 7-10 days if you need to).
Sometimes we purchase Mercer County houses, fix them up, then keep them as rentals… sometimes we’ll fix them up and sell them to others looking for great homes in the area, and a lot of other strategies also – we love to hear from people like you who are thinking of selling anywhere in NJ.
We’re house buyers who care a lot about Mercer County.
We close fast and pay cash in as little as just 7-10 days. Give us a call now at 609-389-9403 or fill out the short form over here.